Q32 Bio Inc. (NASDAQ:QTTB) Receives Average Rating of “Buy” from Analysts

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have earned an average rating of “Buy” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $72.33.

Several brokerages recently issued reports on QTTB. Wells Fargo & Company assumed coverage on Q32 Bio in a research note on Wednesday, September 11th. They issued an “overweight” rating and a $95.00 price objective on the stock. Raymond James began coverage on Q32 Bio in a research report on Thursday, October 24th. They issued a “strong-buy” rating and a $90.00 price objective for the company.

Hedge Funds Weigh In On Q32 Bio

Institutional investors have recently modified their holdings of the stock. Values First Advisors Inc. purchased a new position in shares of Q32 Bio in the 3rd quarter valued at about $33,000. BNP Paribas Financial Markets raised its position in shares of Q32 Bio by 199.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock valued at $58,000 after buying an additional 864 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Q32 Bio during the 1st quarter valued at approximately $62,000. Rhumbline Advisers raised its position in shares of Q32 Bio by 11,681.5% during the 2nd quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock valued at $137,000 after buying an additional 7,593 shares during the period. Finally, MetLife Investment Management LLC acquired a new position in Q32 Bio during the third quarter worth $159,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Q32 Bio Trading Down 0.0 %

Shares of NASDAQ QTTB opened at $26.91 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53. The business’s 50 day moving average price is $41.86 and its 200-day moving average price is $34.93. Q32 Bio has a fifty-two week low of $9.36 and a fifty-two week high of $53.79. The company has a market cap of $327.79 million, a price-to-earnings ratio of -1.89 and a beta of -0.32.

About Q32 Bio

Q32 Bio Inc, a clinical-stage biotechnology company, develops biologic therapeutics to restore healthy immune balance in patients with autoimmune and inflammatory diseases driven by pathological immune dysfunction in the United States. Its lead product candidate is ADX-097, a humanized anti-C3d monoclonal antibody fusion protein to restore complement regulation, which has completed Phase I clinical trial for the treatment of renal and other complement-mediated diseases of high unmet need, including lupus nephritis, immunoglobulin A nephropathy, complement component 3 glomerulopathy, and anti-neutrophil cytoplasmic antibody-associated vasculitis.